The White House denies we are in a recession for the second time this year and we take a look at why Matic is pumping and how it’s set itself up to be a winner for the long term.
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What is the Metaverse?
The Metaverse is a virtual space where people can play games and interact in real time. This virtual world is accessible through smartphones, desktop computers, game consoles, and virtual reality glasses, wristbands, and headsets. It will enable millions of people to work together, play games, and collaborate with one another. Already, companies such as Nike and Roblox are operating in this space. For instance, Nikeland is a virtual game world in which fans can dress up their avatars with Nike apparel.
Companies such as Microsoft, NVIDIA, and Epic Games have announced plans to explore the Metaverse. Recently, VISA has purchased the first NFT for $150,000, which is a token used in virtual games. There is even an emerging trend of popular brands venturing into this market. Gucci recently partnered with Roblox, a game creation system, to sell digital accessories in the form of NFTs. Coca-Cola is also getting involved.
Tokens issued by these new companies in the Metaverse can be sold for real world value or exchanged for other currencies. However, investing in such a venture is not always a wise decision. Most of these digital currencies are new and unregulated, and can experience sudden spikes and crashes. Because of these factors, it is important to know about the risks associated with investing in these currencies before investing.
Many companies are exploring the Metaverse to better connect their physical and virtual worlds. Some of the more notable examples include Facebook, Oculus, and Microsoft Teams. All of these companies are trying to create an immersive virtual environment in which people can engage and interact. In the Metaverse, users will be able to create avatars and collaborate in a shared virtual world. Users will also be able to enter this digital environment with a virtual reality headset.